Cramer Labels Opendoor a 'Meme Stock,' Tells Investors to Steer Clear
He repeated earlier skepticism to warn against chasing a speculative bounce.
Overview
- On his program, Jim Cramer told a caller to take profits and said, “We don’t want to be in a meme stock.”
- The caller described Opendoor as a speculative position after a drop from about $4 to roughly $0.50 and a rebound to around $1.71 tied to rumors of a business-model shift and executive changes.
- Cramer referenced the recent CEO departure, called the former leader a “straight shooter,” and said he would not jump into what some would say was a manipulative situation.
- Opendoor operates a digital platform for buying and selling homes, offering direct sales, listings, marketplace services, and related solutions in real estate, insurance, and construction.
- The article contrasts perceived risks in Opendoor with a promotional pitch for an unrelated AI stock and carries a “Disclosure: None.”